Seeking Alpha

Synacor -3% AH; full-year EBITDA guidance cut

  • Synacor (NASDAQ:SYNC) expects Q3 revenue of $25M-$26M vs. a $25.3M consensus. Full-year guidance is for revenue of $100M-$103M vs. a $102.6M consensus.
  • Q2 adjusted EBITDA was -$1.2M. Synacor has cut its full-year adjusted EBITDA guidance to -$2.5M to -$1M from $2M-$5M.
  • Search/display ad revenue -14% Y/Y to $18.5M. Subscription revenue +8% to $5.7M. Unique visitors fell to 17.9M from 19.7M in Q1, search queries to 130M from 154M. Ad impressions grew to 8.9B from 8.6B.
  • GAAP costs/expenses +5% Y/Y to $27.6M. Synacor ended Q2 with $25.7M in cash, down from $33M at the end of Q1.
  • Q2 results, PR
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